Taxes are bad now? Just wait...

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Back from the island and still acclimating to daily life, Bob gets to experience a great American tradition… TAX SEASON! Frustrated as is, Seamus explains to Bob how worse it could be if Biden’s proposed tax changes were actually passed.
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CREDITS:
Written by Tyler Brandt, Sean W. Malone, and Seamus Coughlin
Animated by Seamus Coughlin
Produced & Edited by Sean W. Malone
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LINKS:

-- Biden's Tax Plan --

-- From FEE --

[grottyband]

I absolutely love the fact that they put links for their research in the description, unlike some other channels I watched. Thanks a lot!

[sebastiantrias]

“If you put the federal government in charge of the Sahara desert, in 5 years there be a shortage of sand.”

[ashleypenn]

One of my favorite mom moments was playing Monopoly with my 8 year old. He kept landing on the income tax square and got mad every time he had to pay money but didn't get any property or anything. Eventually, he just started shouting "TAXES ARE STUPID!"

Still does. Smart kid.

[ryanhodge]

What I love is paying taxes to pay taxes.

If I want to make a $1, 000 purchase (like, say, a full tank of gas); I not only have to earn sufficient money to make the purchase, but also to pay the sales tax (say 10% to total $1, 100 to keep it simple)

However, all of my earnings are taxed (say 20%), meaning I now have to earn $1, 320 to make my purchase.

So I have to pay the government $220 for the privilege of paying it $100.

...and it is somehow still $30T in debt.

EDIT: Clarity

[Arcinii]

I really wish everyone could see this and understand how much pain we're in for if some of this stuff gets passed.

[drthmik]

You know what other taxes were only suposed to be for the wealthy?
Income Taxes
How long did THAT last?

[Nerdvanna]

I'm in a moral dilemma to even pay my income taxes after seeing just how poorly my money is being used as the government literally sends out "safe" drug packages containing crack pipes, 14 billion to Ukrainians and is raising our defense budget to nearly 800 billion dollars all while our economy is collapsing, our infrastructure is in shambles and our border is being overrun.

[CoolPapaJMagik]

“Our establishment is the enemy. Write that on the blackboard 100x so you never forget it.”

[jacobpinson]

How I long for taxes used for useful stuff like roads, fire & police departments, libraries, and a military designed to fight wars when necessary instead of a bunch of half wars.

[gollum]

I disagree with the last idea. Politicians do understand the consequences of their actions perfectly well. They know that the poorer people become, they turn increasingly dependent on the government. Keeping the individual down only enhances politicians' power. It is only natural to expect that they will try to do that at every chance they get.

[noturbusiness]

Imagine how different things would be if each individual could designate where their tax money (or at least half of it) is spent. I imagine most of their wasteful projects would get next to nothing

[dexterevans]

As a Mexican seeing so many businesses coming here instead of usa to avoid taxes, thank you. You are increasing jobs here. Thanks Biden!!!

[justicedunham]

We don’t have an income problem in government, we have a spending problem.

[itslash]

*”the Scandinavians have high tax rate!”Yeah and the Scandinavians are highly efficient and know where each penny is spent*

[educatedfool]

I remember visiting singapore on a business trip, and while I was speaking with my colleauges from the area, somehow we got on the discussion of taxes. When I went into detail of just how much we get screwed out of our money here in the good ol US of A they started laughing at me. One girl even made a joke about my appearance "You looks so defeated right now!", and in truth I was.

I am resigned to a fate of paying an absurd amount of taxes to a government who seems to waste it all on useless shit. They were shocked to hear when I mentioned that even if I moved to another country, I'd be forced to pay US taxes, because the USA is one of two countries in the entire world that bases taxes on citizenship. Eritrea being another, you know an African country where military service is mandatory for all male citizens, and lasts for life!

The only way to avoid US Taxes is to renounce your citizenship, and guess what there is a tax on that as well. On top of numerous fees. So unless I want to forfeit 2/3s of my net worth by moving to another country and renouncing my citizenship, then unfortunately it looks like I, like every other American am stuck in the clutches of uncle sam for the rest of my miserable existance...

[christopherzajonskowski]

"It's rare for politicians to understand the unintended consequences..."

...completely understandable - we're talking the bare minimum understanding for economics here - why would we expect POLITICIANS to understand such unbelievably complicated rocket-science - it's not their job, or is it?

[Terminarch]

You know what would raise tax incomes for the state? Simpler tax rules.
Cut out the completely unnecessary paper-pushers in the tax filing business and people will have more to spend on things of actual value!

[tenebrousjones]

When the government just prints whatever it wants, why even bother with the pretense of taxation?

[pamelaevans]

Loved the ending "We bring the receipts" would love to see the receipts for the current spending in federal government.

[AdolfoCardoza]

Someone is running for president
If they said, "I'm going to lower taxes" than vote that person
If they said, "I'm going to rise taxes high" than don't vote that person